Short Interest in Mustang Bio, Inc. (NASDAQ:MBIO) Drops By 22.4%

Mustang Bio, Inc. (NASDAQ:MBIO) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 91,700 shares, a drop of 22.4% from the February 13th total of 118,200 shares. Approximately 6.4% of the shares of the company are sold short. Based on an average daily volume of 310,600 shares, the days-to-cover ratio is currently 0.3 days.

Mustang Bio Price Performance

Mustang Bio stock traded down $0.01 during mid-day trading on Monday, hitting $1.41. 21,427 shares of the company’s stock traded hands, compared to its average volume of 243,380. The firm has a 50 day simple moving average of $4.23 and a two-hundred day simple moving average of $8.89. Mustang Bio has a fifty-two week low of $1.35 and a fifty-two week high of $67.00. The stock has a market cap of $1.34 million, a price-to-earnings ratio of -0.02 and a beta of 1.82.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mustang Bio stock. Geode Capital Management LLC grew its position in shares of Mustang Bio, Inc. (NASDAQ:MBIO) by 15.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284,437 shares of the company’s stock after buying an additional 38,951 shares during the period. Geode Capital Management LLC owned approximately 29.63% of Mustang Bio worth $50,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 9.95% of the company’s stock.

Mustang Bio Company Profile

Mustang Bio, Inc, a clinical-stage biopharmaceutical company, focuses on translating medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors, and rare genetic diseases. Its pipeline focuses on gene therapy programs for rare genetic disorders, chimeric antigen receptor (CAR) engineered T cell (CAR T) therapies for hematologic malignancies, and CAR T therapies for solid tumors.